Technical Analysis of Indian Equities by Nooresh

Sensex should face resistance at 19500-19600. Will Real Estate see a Bounce !


Sensex Technical View:

The last two bottoms around 18800 shows that market seems to be taking support at the 200 dema. The earlier move below 19000 in short term is a dangerous signal but the last few sessions did not see a follow up selling implies one needs to wait and watch.

Short Term Momentum could be seen only on sustaining 19600 where the recent top as well as 38% retracement of last fall.


Bank Nifty may find resistance at 11200 which if crossed could see some momentum for 11400-11500 quickly.


Real Estate Stocks like DLF / HDIL and India Bull Real Estate look highly oversold and as sharp bounce could be expected on back of RBI meet whether its positive or not.



Stocks to Watchout for :

Cholamandalam looks set for a quick move to 210-220 levels in extreme short term .Watch for volumes supported breakout above 195.


February  5th - 6th 2011




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Article by Nooresh Merani

Nooresh has written 2801 articles.

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{ 6 comments… add one }
  • ANJALI January 25, 2011, 20:24

    Sir, kindly advise me,
    Which sector u think will shine in next 1-2 years
    what u think about Rolta?

    • nooresh January 27, 2011, 19:15

      Hi Anjali

      As of now lets wait to find the next big sector. But Reliance and Oil and Gas would be one to watch for.

  • Zulfikar January 26, 2011, 22:09

    Hey nooresh
    what do u think about jmc it’s been stuck in the 180-210 range for nearly 6 months now. Which way do u c it moving in the future

    • nooresh January 27, 2011, 19:14

      Hi Zulfikar

      Not tracking it closely

  • mayur January 27, 2011, 10:36

    hi nooresh bhai

    what are ur views on tci finance the stock has done 107(uc on 27/1) from 50 levels

    • nooresh January 27, 2011, 19:14

      Hi Mayur

      I missed out on the stock after tracking for a long time. Continue to hold and reduce if having


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